I'd be fine with it. Then again, I'm always fine with any result, but boiling everything down into W's and L's does a disservice to how good a team is or can be.
If we lose to OSU, Penn State and WIsconsin and they all end up in the top 10 at the end of the season, then we drop two nailbiters by less than a score each to a resurgent Top 25 Oregon team and a better Iowa or Northwestern squad, it happens. If that's the lame list, then what are we? We've lost to a lot of those teams. Every game we play with Northwestern is a nailbiter, Iowa has won 3 of the last 4, etc.
What are we? A crappy 7-5 team.
Look, the scenario you just gave would be a great 7-5 season for KU or Oregon St or Cal or Rutgers or Maryland or GT...
But for NU it is not some great 7-5 season. It just isn't.
"Every game is play with Northwestern is a nailbiter" Great...but those games should not be nailbiters. We made soooo much fun of NW and Iowa before joining the Big Ten...Now we are "okay" with close losses to them?